California public agencies commonly offer a variety of retirement benefits to employees, including defined contribution plans such as 457(b) plans, 401(a) plans, and, in some cases, 401(k) plans or retiree health savings arrangements. While these plans provide valuable retirement security, they also create an often-overlooked administrative responsibility: ensuring that employees complete and maintain current beneficiary
The beginning of the New Year (and a new plan year for many public agencies) is a good time to review key provisions of the Comprehensive Omnibus Budget Reconciliation Act (“COBRA”), including what notice requirements COBRA imposes on public agencies.